The report from the UK central ban found that financial firms are spending upwards of $20 billion a year on post-trade processing systems alone.
Tag: legacy technology
HSBC is implementing a layer of APIs that chips away at its underlying legacy tech, while at the same time, standardising data and information flows to its custody clients.
New and disruptive technologies are causing a fundamental shift in mindset towards approaching legacy systems as custodians look to think outside the box.
The move sees SJP migrate its £69.1 billion of assets under management from its legacy system onto the SS&C's Bluedoor platform.
To protect clients from any destabilising effects of replacing elements of its core legacy platforms, Citi is deploying a unique tech strategy.
FinTech firm Finbourne has released an early access programme for its flagship cloud-based investment data management platform, LUSID.
JP Morgan has increased spending for the business’s technology by a third, and now has one of the highest operating margins than all of the global custodians.
A UBS survey showed 87% of participants from banks with assets of $250 billion and above believe technology spending will increase annually over the next three years.
Asset managers have been slow to incorporate big data into their day-to-day operations, despite the cutting edge tools on offer to deliver, alpha according to Sibos panelists.